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former white house economic advisers about what the candidates policies mean for america. >>> the devastation of superstorm sandy, the impact it could have on the economy and what happened at the new york stock exchange that hadn't happened in more than 100 years. >>> the changing way we deal with and learn about crises, the perils and power of social media. "wall street journal report" begins right now. >> this is america's number one financial news program, "the wall street journal report." now maria bartiromo. >> here's a look what's making news as we head into a new week on wall street. a positive jobs report and labor department reporting that the unemployment rate ticked up a notch in the month of october to 7.9%. but 171,000 jobs were created in the month well above expectations. numbers for the last two months were also revised upwards and 84,000 jobs added for august and september. new york's mayor michael bloomberg rang the opening bell at the new york stock exchange after a two-day shutdown because of superstorm sandy. that's the first two-day weather related s
that for the united states of america, the best is yet to come. >> welcome back. this is a special edition of "your money, your vote." i'm kelly evans. >> i'm ross westgate. these are the headlines. >> president obama rolls to re-election and a second term, defeating mitt romney despite a weak u.s. economy and persistently high unemployment. >> investors cheer obama's re-election. equities trading high led by autos and health care stocks. >> democrats keep their hold of the senate and republicans keep their control of the house. >> there will be a tough challenge facing the looming fiscal cliff. >>> a very good morning to you. it's been a long night, but we have a result. >> yes, we do. let's get right it to. president barack obama capturing a second term in the white house despite the struggling u.s. economy. he did manage to win many of the same states he took in 2008 and nearly all the critical swing states, including ohio, virginia, and colorado. speaking to supporters in chicago just a few hours ago, the president congratulated his republican challenger on the spirited race and said there's pl
that night at my speech that if you compare all the states in america with the ones led by republicans compared to those led by democrats, the unemployment rate in republican led students was one point lower than those led by democrats. and voters understand that.was than those led by democrats. and voters understand that. >> is the hurricane having any impact on on the presidential election some there's been lots of questions does it help the president, does it hurt the president. from the national perspective, you're outside this region, do you think it has any impact at all? >> i think it's fairly neutral. i think as americans, we expect that on monday and tuesday and since then that we've set aside partisan politics and really focused on making sure first and foremost we send our prayers and thoughts out to everybody on the east coast and then i think it was appropriate for mitt romney for example had a rally scheduled, he canceled that. on tuesday, my wife was with ann romney in green bay and paul ryan was in lacrosse collects relief items. i did a phone bank for the red cross. th
to him about the fiscal cliff, compromise and the odds of a deal happening. >>> america's energy independence and the environmentalist who says fracking is here to stay. but just how do we make it safe? we'll drill down to get some answers. >>> and then the man who many in the technology world call the next steve jobs. you're probably already using something this quiet genius already invented. "the wall street journal report" begins right now. >> this is america's number-one financial news program. "the wall street journal report." now, maria bartiromo. >> here's a look what's making news as we head into a new week on wall street. corporate america had a strong message for president obama this week. ceos from more than a dozen of america's largest companies met with the president and warned that washington must reach a deal to avoid the fiscal cliff. the president also sat down with congressional leaders and officially began negotiations. if congress doesn't act, taxes on income, capital gains, dividends and estates will all go up. and automatic spending cuts will kick in, beginn
an offer out on? >>> plus best medicine? health care trust of america leases over 12 million square feet of medical space nationwide. could their hefty dividend help your portfolio stay healthy? cramer gives his prognosis in an exclusive with its ceo just ahead. all coming up on "mad money." >>> now that we've had a month to reflect on hurricane sandy, one thing is very clear. our nation needs a new power grid. you know that and i know that. i call this storm a wake-up call to government officials and the utilities they regulate all over this country to finally start fixing our aging infrastructure. it's not just that the storm knocked out power in the northeast. one of the reasons why it took days or even weeks for people in new york or new jersey to get electricity back is because our grid is outdated. did you know that 30% of our infrastructure is already approaching the end of its usefulness?. another 30% is approaching the end of its usefulness. this equipment should have been replaced ages ago. one of the reasons why you're disgusted in the northeast about what happened, and you ha
america for generations to come. our commitment has never been stronger. "mat h mad money. >>> i'm cramer. welcome to "mad money" welcome to cramerica. my job is not just to educate you but to entertain me. call me at cnbc. believe it or not, i actually used to be a mountain climber. drove my mother crazy but i loved it. always had the best gear. climb up from whatever abyss faced me. which is why i'm donning the finest mountain-climbing attire i can get my hand on because i now believe that we may very well go over the fiscal cliff come january and i want to be ready to climb back out with the right stock after it happens. you can't come from a given day like today, dow 107 points, hey, happy days are here again, right? this is a day where my equipment felt a little -- felt a little superfluous because we had all sorts of happy talk for a bunch of people in washington about how compromise was within reach. however, i think it's been increasingly apparent that we actually may not get a deal in time for the january deadline. something warren buffett pointed out. who am i to disagree. you d
of the senate says it is time for president obama to tell america what this man is. that senator is pat toomey of pennsylvania. he is going to join us here in 25 minutes. next up is the republican party about to lose it's soul and principles over the fiscal cliff debate. why is nobody talking ip t inin media about spending cuts. let's talk to brent great to see you on the show. thank you for coming. let me start with this thought. over this fiscal cliff debate. nobody is cutting spending. everybody is talking about taxes. is the gop losing it's soul and principles? >> no one is being serious in it's debate. the fellow from adi is making sound statements. but he is whistling past the graveyard. there is no problem that the obama budget calls for spending giving us a deficit of $1 trillion per year as far as the eye can see. tax cuts didn't cause this. it is spending that caused this. you go to spending. you have the cpo itself is saying the only way to do this is getting obamacare out of there. what are the republicans starting to say? this will destroy the republican party because the party wi
to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. now that we are right in the middle of the shopping season, focus on retailers that control their destiny. little uncertainty over the fiscal cliff, you need to own companies that exist regardless of what happens on the economy. take pvh. host of other brands you know. back on october 31st, we learned that pvh was acquiring a brand for $2.9 billion. you have the house of klein all together. pvh reported after the bell today and the results were very strong. the company delivered strong earnings. let's check in with the fabulous chairman and ceo to find out more about the quarter. good to see you. all right, this was a very interesting thing this quarter. you had already told people that you thought you could beat the number. you had four cents more than anybody thought. was it the strength of the consumer here? is it the margins? how much better europe is for you? what is the make up of that last bit? >> margins
[stopwatch ticking] >> america gets half its electricity from coal. the problem is, that process creates tens of millions of tons of waste loaded with toxic metals. this muck is called coal ash. never heard of it? neither had most of the people in kingston, tennessee, until a retention pool buckled, shooting a billion gallons of coal ash into the river and engulfing area homes. [ticking] >> the oilmen up there aren't digging holes in the sand and hoping for a spout. they're digging up dirt-- dirt which is saturated with oil. they're called oil sands, and if you've never heard of them, you're in for a big surprise, because the reserves are so vast that they'll help solve america's energy needs for the next century. [ticking] >> if you were waiting for the day global warming would change the world, that day is here. it's happening far from civilization's notice in a place about as remote as you can get. >> welcome to 60 minutes on cnbc. i'm steve kroft. we live on an increasingly endangered planet, from the glaciers of antarctica to the rich prairie lands of canada. and the ultimat
, will reducing the tax detux for charitable giving really hurt america's charities? you may be surprised about what i'm going to say about this, and the facts back me up. get ready for a debate, because free market capitalism is the best path to prosperity. people don't make charities just because of tax considerations. i'm larry kudlow. they have a heart, and that heart is what driving them to be beneficial. [ male announcer ] if you suffer from heartburn 2 or more days a week, why use temporary treatments when you can prevent the acid that's causing it with prevacid24hr. with one pill prevacid24hr works at the source to prevent the acid that causes frequent heartburn all day and all night. and with new prevacid24hr perks, you can earn rewards from dinner deals to music downloads for purchasing prevacid24hr. prevent acid all day and all night for 24 hours with prevacid24hr. >>> the united way and other nonprofits are freaking out tonight that the charitable tax deduction might be capped in order to help soft the budget problem, but you know what i think? i think the deduction has nothing to d
best medicine? health care trust of america leases over 12 million feet of medical space nationwide. could their hefty dividend help your portfolio stay healthy? cramer gives his prognosis in an exclusive with its ceo just ahead. >>> all coming up on "mad money." [ male announcer ] this december, remember -- you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best values of the year. i've been a superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. tha
uncertainty, our electrical americas business had an all-time record sales and profitability quarter. our electrical risk had a real resurgence in terms of its profitability and that goes back to the points you made at the opening of this session that our acquisition of cooper will bring to eaton now about 60% of our revenues will be in our electrical business, our strongest performing current business. >> as soon as the number came out, i went on twitter. that's what people do these days. saying oh, that's the perfect number. a lot of people said what are you looking at? obviously the earnings weren't that good. i'm looking at the operating cash flow and the margins which i thought were much better than i expected. >> there's no question, i've been talking to shareholders and investors about the issues. the economy was down shifting, that we'd be seeing a lot of number of these markets, large oems, startsing to reduction production levels. but in spite of that, our buy, were about $250 million short of where we thought they would be. our segment margins at 14.6% were strong. our balance
america are the leaders. >> we may be the leader. thank you, ken heebner, we appreciate it. >>> while new yorkers are still spending hours on glass lines, the odd/even license plate system in new jersey which takes half the cars out of the gas lines each day, that system's working so well in new york city and the long island counties are mandating odd/even beginning friday. one more sign of sandy's impact. new york governor andrew cuomo estimates the damage in his state, alone, at $33 billion. cuomo assailed the power companies. he called for a ground-up redesign of the power and fuel supply systems. but i think what he ought to do is open the door to some deregulation and free market competition. this especially for the power companies. let the marketplace work, governor cuomo. you'd have better results during emergencies or nonemergencies. >>> anyway, coming up here, president obama wasn't the only big winner on tuesday night. the polling industry kind of nailed it. top pollster ed gullas is up next. ♪ [ male announcer ] a european-inspired suspension, but not from germany. ♪ a powe
. as america demands compromise, on growing the economy and avoiding the fiscal cliff. the president today hosted an old fashioned lefty summit filled with labor chiefs and foreign liberal groups. he went to them ahead of business and the politicians are going to come later on friday. they are going to consider mitt romney's plan. he lost the election but might his ideas win out in the end? plus obamacare, continues to take it's toll on jobs. and one ceo's comments about it's plan are spurring a national movement to eat pizza. 48 days until the biggest tax hike in the history of the planet earth. president obama put labor and local interest groups to who knows what. senate minority leader had the perfect response on the senate floor today please take a lis ebb. >> the amount of revenue that they are prepared to put usual over the cliff over wouldn't fund the government for one week. so why in the world would we want to do that? what is the point? to make people feel good about whacking somebody else. >> so what is your answer to what mitch mcconnel said? go after rich people. why do it at
of the credit card bashing obama, actually up 8%. bank of america has collapsed from $47 to $9. a lot of them $57 to $17. mastercard 184 to 465. you have to draw a conclusion other than goldman and morgan have the wrong business models for the moment. and the big domestic banks have the right ones, except the poorly run, poorly executing bank of america, which can't benefit from the model because it's been so horribly hobbled by previous management's mistakes. >> the house of pain. >> that said, will goldman and morgan stanley do better under romney? is dodd/frank the liaison? or depending on trading and mergers and acquisitions as the peddling of big acquisitions is a thing of the past maybe they can come back. i still can't pin the tail on obama. too much disparity within the sector. obama care was supposed to take the profit margin out of the drug stocks, right? merck and pfizer are unchanged. the run in gilead. i think it's better drugs and better management. consumer packaged goods, again, not the president, but execution determined performance. that's why colgate has ramped from $77 to
with the black knights of the hudson? stick around you're about to find out. in america today we're running out of a vital resource we need to compete on the global stage. what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone's ready with the know how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at ♪ >> hi, i'm air force captain shawn wilson. i'm currently serving in afghanistan. i have a message for my excruciatingly beautiful wife. a few more weeks and i'm bringing it home. i love you with all my heart. >> we celebrate our nation's troops. in order to take the celebration one step further, we have a chance to talk to an american international group, aig, largest insurance group on earth, having served as a lieutenant in the army. if you think of where aig was about four years ago when everybody thought the company was a g
to in america today we're running to compete on the global stage. what we need are people prepared for the careers of our new economy. by 2025, we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone's ready with the know how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at ♪ >> you've got the u.s. marines in afghanistan. >> in honor of my grandfather. >> in honor of my great grandfather. >> thank you to the veterans today and the ones that came before us to help make our nation free. [ applause ] >> welcome back to our special salute to the troops show. we're proud to have so many brave men and women. i will gladly admit that there are some things the government does really well with national defense at the top of the list. but when you find yourself in a situation where we are at now, that's a problem. i'm a stock guy. i hate to pontificate about politics. it's supposed to be pr
of you. thank you so much. the "wall street journal report" begins right now. this is america's number one financial news report, "wall street journal report." now maria bartiromo. >> the kick off to the most important shopping season of the year is underway. it is started earlier some retailers opened their doors on thursday night after thanksgiving dinner. it got off to a good start and analysts expect sales to rise a little more than 4%, not as strong as last year. retailers earned one-third of their profits during the holiday season and consumers make up 70% of the u.s. economy. during the holiday-shortened week the markets moved in tandem for the fiscal cliff. up more midweek. the markets continued to climb on friday. stunning accusations that one of america's iconic companies hewlett-packard which acquired autonomy last year for $11 billion is accusing autonomy of what it called serious improprieties in its bookkeeping and inflating its own value. meg witman says the company lied about how much it was worth. >> we believe there's a willful effort on the part of certain members of
between the president and congressional leaders. could their plan be the key to stopping america from going over the fiscal cliff? this exclusive event is next right here on this special edition of the "closing bell." iy stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> all right. welcome back. we have a hot show for you today. we are getting down to the brass tax on the fiscal cliff tomorrow. president obama and congressional leaders meet face to face with the clock ticking to new year's on the fiscal cliff. for nearly two years, the one plan that has gotten the most support among those outside of washington and even inside has been the simpson/bowles plan. the two, of course, chaired president obama's deb
that america has. and dysfunctional washington and cloud of uncertainty is hurting the whole economy. so the country wants to see particularly after this election that washington, d.c. can come together and solve problems. >> why have you not pulled back already? recognizing what you're saying, which is the uncertainty element even if it gets solved let's say by january 1st, it sounds to me like the uncertainty along the way will put you in a bunch of trouble. >> i believe the odds are much greater that it will get resolved and it is going to get -- >> when are you betting for to be resolved by? >> i think the process of resolving it is going to be completely different than the summer of 2011. i think there was a lot of lessons learned there by both sides. we're past the election. everyone knows the only time you can govern reasonably in this country is after a presidential election. and if you look at the signals from the various sides, republicans are conceding that we'll have higher revenue and we'll have a more progressive tax -- >> what does that mean in terms of the luxury segment?
would say 70 to 80% of the growth will come outside of north america. mainly in asia. we'll get to 1,000 stores toward the end of the '13 calendar year in china. a week ago at this time, i was in mumbai, india, where we opened our first of three stores. so we're in a situation right now where, you know, again, i don't want to overstate anything given the backdrop of the economy, but the company is firing on all cylinders. we're very optimistic about the holiday season. as i said, we're beginning to see many of the things that we put in place in the u.s. business in 2008 during our own transformation beginning to take hold in western europe. it's going to be a long-term effort, but we're seeing the siti signs that give us cautious optimism. >> what about that european business and the just announced $40 million profit in 2011? but also, people are talking about a $60 million loss reported to tax authorities in the u.k., germany, and france. some are saying investors are being told one thing and the company is reporting something else. can you clarify this for us, howard? >> sure, i ca
no democrat feels that we are out of the woods. but we're moving in the right direction. that's what america worries about, that's what america wants, moving in the right direction. >> you and i have done this show so many years. when george bush was president, 150,000 job growth, you used to say the economy's not doing well enough, 2.5% growth, that's not good enough. you're right. but obama's record on the economy is worse on all these statistics. you're right, he inherited this crisis, but four years later we're not much better. the economy's growing slower now than last year, slower than the year before. you can't blame that on george w. bush. >> wait a minute, there have been terrible headwinds. also, it's not exactly as if republicans and the republican congress has cooperated very much. by my recollection, they voted for absolutely nothing that obama wanted. >> in a democratic congress, two years -- >> all that stuff, $800 billion stimulus, obama care, dodd-frank, he got all that through the democratic congress -- >> we'd be much worse off had we not had that stimulus. >> there's no g
expenditures. america is still the best there is. so to me, this is the greatest engine. it's growing slowly. it's waiting to be ignited. i have enormous respect for the president. i just think that business and government collaborating as a much better chance than an tag nating. if president obama is re-elected can it be fixed? of course. most ceos i know i want to work with government. they want to make things work. they want to create jobs, opportunity for everybody. hopefully that need will go back and it'll take everyone a little bit to say, let's just start collaborating. let's get our hands together. let's get this country working again and stop fighting each other all the time. that's not going to get us anywhere. >> you made a lot of changes. you revamped your cio office. you revamped putting two co-operating chiefs in charge. people are wondering, is it enough what you did? in other words, how punitive will regulators come down on you? what kind of sanctions or fees, anything on the horizon that we should expect from the investment community? >> look, we've shown all these possibil
are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morn 24 hours. zero heartburn. but when i was in an accident... in the first place! i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. so i never missed a beat. that's health in numbers. unitedhealthcare. >>> the oregon of omaha adding the fuel the tax the rich and warren buffett argued once again that the rich pay a lower tax rate than the middle class, same old, same old. we have wealth reporter, however, robert frank. he joins me now to share one very important problem with mr. buffet's argument. good evening, robert,
right now. >> this is america's number-one financial news program. "the wall street journal report." now, maria bartiromo. >> here's what's making news as we head into a new week on wall street. if investors thought we would be getting a certainty bounce after the election, they thought wrong. in fact, president obama's second-term victory was greeted with stocks second worst day of the year. triple digits again thursday, and figures were mixed thursday. the possibility of a u.s. downgrade if america goes over the so-called fiscal cliff. but said it would wait until after budget negotiations. a downgrade, of course, would make it more expensive for the united states to borrow money. >>> superstorm sandy could provide an economic boost to the auto industry. as many as 250,000 new and used cars may have been ruined by sandy. a loss that could eventually lead to a spike in auto sales. >>> overall consumer borrowing expanded in the month of september, but at a slower pace than the previous month. a sign buyers may be pulling back on their credit card purchases. this is an important data poin
. >> bring ourselves from foreign oil. we've got more work to do. >> announcer: america's energy debate isn't stopping po post-election. it's just heating up. will the desire for independence push energy service stocks higher? or could a crack down on fraking extinguish their claim? cramer finds out when he talks to the c.e.o. next. and, later, the election correction? the market obliterated anything romney today. cramer is rummaging through the romney rubble to find you diamonds in the rough. plus, in stable condition, the president gets another four years. and it appears obama care gets a clean bill of health. so where does that leave medical plays like opco health. tonight, cramer speaks to its c.e.o. to find out. all coming up on "mad money." >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer hash tag, mad tweets. or, give us a call at 1-800-743-cnbc. miss something? head to there are a lot of warning lights and sounds vying for your attention. so we invented a warning you can feel. introducing the all-new cad
traffic growth up by 5% in the americas as well as 5% globally. very interesting to see there. >> points out margins on an operating basis different than a apple retail stores which is mind blowing. the jobs number, of course, coming in better than expected. nonfarm up 170,000. alan krueger on president's council of economic advisers. good to have you. welcome back. >> good morning, carl. >> walk me through what you think is most important, because people have had a hard time finding any flaws in the report given the revision -- the successes and failures as far as you see it? >> you know, carl, every month when i get this information i try to take a step back and look at it in the context of other information that's coming in and i think we see a picture of an economy that's healing, that's recovering from the deep problems that were created from the recession back in 2008 and the problems that frankly were building up for years before that. in today's report, we see that over the last year we've added 2.1 million. before that 1.9 million. the unemployment rate is down a full percentage
is over. that's number one. number two, let's get back to the business of america and stocks going up in america as an asset looking very well on a longer term perspective. however, on a near-term basis, the market in our belief is well ahead of historical norms in terms of election years and fundamentally. next year things will look better. near term, i think a lot of participants could be surprised if we see a pullback from here because it's very consensus to think if romney wins the market is going to rally. well, it's already in the market. we would be concerned that we'd get a bit of a pullback near term. >> joseph, what do you think? in terms of putting money to work today, would you be buying into this rally or selling into it? >> i think part of the issue right now is not so much the election. it's really the fiscal cliff. the unfortunate thing is we really couldn't make any heads or tails as far as what's going to happen with this fiscal cliff until we get clarity from the election. i suspect between now and the end of the year, you'll see a lot more anxiety. there will be mo
of the 1% vilification. the way a person becomes wealthy in america is having an entrepreneurial dream and serving other people well. if you serve customers well in america, you can become wealthy. we used to think that was a good thing during this election cycle with a president leading the way it was vilified. it's outrageous and should stop. >> the vilifying really has to stop already. there's an american dream and an aspirational issue here. you know, people want to climb the ladder and do well. when you say things like, you know, rich people don't pay their fair share, it gets my back up. i know the tax rates. i know what people pay and don't pay. that's an umbrella statement. it's not true. so let's keep the talking points aside. let's have a real conversation. >> of course it's an aspirational country. that's precisely the point. obama has aspirations for people. mitt romney did more than the president could have done in vilifying himself to ordinary voters. i mean, you can't help the fact that mitt romney said i like firing people. you can't help the fact that mitt romney said
. >> will america soon be the new saudi arabia when it comes to oil? it's not science fixction. it's happening quicker than what you might think. what will it do to gas prices at the pump? >> it is very good stuff. right now the markets hoping to start the week off on a positive note after that rough go since the election last week. the dow up just 12 points. again, very light volume. no bond trading today because of the veterans day holiday. not a lot of direction for the markets today. up a point and change for nasdaq. at 2906. apple and microsoft sort of impacting the market today. the s&p 500 is up 1 1/2 points at 1381. less than an hour to go, let's talk with stocks in the green. can we manage to kick off the week in a positive note after last week's big losses? uncertainty over the resolution of the fiscal cliff is going to see for the foreseeable future, until the end of the year, as investors weigh what to do about that. what is the investor to do now that the markets get out of the way? >> we have chris levy from blackrock, michael from penchant partners michael jaynes and bob pisani.
america. you know i think the chinese economy is in the process of coming in for a soft landing which is incredibly bullish. look, this weekend we got more positive data from china. now that the leadership transition has happened in the communist party, i think the chinese government could be more aggressive about stimulating the economy since they seemed to have got their inflation situation whipped and a rebound in china's economy, what a reason to own fedex in itself. last but not least, i think fedex is worth buying here because the price is right. at the moment the stock is trading at 11 times earnings. we're 20% below where u.p.s. is trading. it isn't that much better. u.p.s. is just not that much better than fedex. remember, fedex soared when we heard about the restructuring. ever since the election it has pulled back along with the rest of the market to the point where it's now almost back to where it was before the announcement. it's time to buy, people. bottom line, you want a real cyber monday deal, go buy yourself -- >> buy, buy, buy. >> -- some federal express. robert in
of america will be on "meet the press addressing the fiscal cliff situation. as a student of secretary geithner who has studied every move i believe he will report we are going to avoid falling over the fiscal cliff and get deal. in part because the two sides aren't that far apart. they sound like they are but they may not be. both sides recognize that we will be in a recession very quickly, maybe even as soon as the second quarter. if they don't compromise. so listen to me. the tax hikes are so severe. [ audience boos ] >> the spending cuts, particularly the cuts to the military, are so draconian even some republicans who think a compromise is a total betrayal, they fear the economic consequences of cliff jumping. once a deal is reached. tax rates, tweaks and deductions, it could be game on in 2013. i don't regard this as kicking the can down the road. i believe this will be comprehensive enough to address everything from the roll back to the clinton year capital gains rates dividends. i think it's going to happen. to a plan to keep tax the same for 98% of americans and raise the debt
, bank america. i'll wear a name tag next time. >> more "fast" at 5:00. >>> "power" starts right now. >> welcome to a special "rise above" edition of "power lunch," live from the nation's capital. the heart of the action today right now on capitol hill, dozens of ceos are working the hallways trying to convince lawmakers to get a deal done and avoid the fiscal cliff. >>> next stop, the white house later this afternoon. good afternoon, everybody. i'm tyler mathisen. it is a big day in this national discussion about how washington can avoid the fiscal cliff. some of the senators in the center of the debate will be stopping by. we may hear from some ceos this hour. we do expect to hear from some of them at a press conference later this hour. the president, by the way, weighed in on the debate this morning as well. sue, a busy day down here in washington. >> it sure is, ty. indeed it is here as well. we are going to be joined by a very special guest, noted author and investor nassem taleb. after dropping more than 100 points in the early going, the dow sittingality the highs of the day.
and investment cliff certainly interrelated. that's the definition of holding america's economy hostage. the politico's chief economic correspondent ben white says don't worry so much. ben, why do you say that? welcome back to "power lunch." why do you say this deal you think is done? >> details i think of the deal aren't done but the inevitability of the deal is done. people are looking at this through the lens of 2010-2011, a rising tea party, complete dysfunction in congress. not that we have a great function in language but we had a presidential election which the president ran and run on raising the top income tax rates. even republicans admit across the board, governor haley barbour of mississippi, one of the most conservative states in the nation, said we have to cut our losses on this, take some slight tax increase in return for some spending cuts. they're going to be back and forth, there's going to be moments where it looks like we're close to a deal, then terms change a little bit. but there is absolutely no appetite on the part of the republican party to get blamed for a fis
the members of the japanese mob. so how did one of their most notorious godfathers get into america and jump to the front of a line for a lifesaving liver transplant? this reporter found out and says it may cost him his life. >> as he was leaving and getting in his car, he said, "that"-- you know, "that--that goddamn american jew reporter. i want to kill him." [ticking] >> greg mortenson's book three cups of tea is a publishing phenomenon that has made him a celebrity, a cult-like figure on the lecture circuit, and inspired people to give nearly $60 million to his charity, and it all began with one simple story. >> it's a beautiful story, and it's a lie. >> we wanted to talk to mortenson about that and some other things, but he didn't want to talk to 60 minutes. >> steve kroft. >> nice to meet you. >> how you doing? >> thanks. >> got five minutes for us today? >> um... [ticking] >> we wondered how the man who could whistle up a corporate jet on a whim... >> let's rock. >> or throw a $2 million birthday party was doing in his reduced circumstances. what's it like to go from king of the world
game isn't about america, it's about you who do we make the demss lose and how do we make the republicans lose. people are sick of that and ashamed of it. >> we'll try to rise above all of this today. our guest hosts will be doing the same. but before we get to all of that, andrew has shall other top headlines. >>> we have some very important news and serious news. fighting escalating sharply overnight. dozens of missiles seen exploding in gaza. authorities in india have investigating claims a that walmart violated exchange rules. direct ownership by foreign firms was prohibited. walmart has denied any wrong doing. and the news comes a day after walmart reported disappointing quarterly sales. there is an original probe in mexico. and finally japan dissolved lower house for a december 16th election. the nikkei rallied more than 2% as investors bet the main opposition party will lynn the election. the party's leader has voied to put pressure to ease monetary currency. mr. kernen, welcome back. >> 25 2not even 24 hours, but is a wallop. it was something. >> we have to go back
's obviously contributed. the rates are down any way. i just think that if you bought bank of america because you thought romney was going to win and that was your reason to buy bank of america, if you own bank of america because you think there's a solving of housing situation, why would you sell it? i would use that as the extreme example. bank of america was perceived to be the bank that benefits the most. >> we have removed some uncertainty. if romney won but democrats had retained control of the senate, for example, there would be great uncertainty as to whether the affordable care act would be overturned or whether dodd-frank would be overturned. now we know they are going to stay law. that's it. it's over and done with that debate. you can make a decision one way or the other based on groups most affected by those laws which are coming into effect really in 2013 in their fullest way. positive or negative. >> we didn't know this time yesterday whether we would have hanging chad. i am old enough to say i covered the 1976 election. i had a headline that i wrote that says mississippi puts
, if you believe that there is value in companies, look at corporate america, corporate america has never been this strong. this is very powerful engine. at some point when that engine gets unlocked, here, great places in europe, overseas, that will drive real returns. it may not be 10% to 15%, but 6% to 8% is a lot better than losing money because of inflation and the chance rates go higher. >> jon, thanks for coming in. >>> when we come back, i don't understand the fiscal cliff. the global markets are also watching the situation in the middle east. israel launching a major offensive against palestinian militants in gaza killing the military commander of hamas in an air strike. mar ten flettin fletcher will j with the latest. >>> if congress fails to agree on a plan to avoid the fiscal cliff, it will result in over $40 million in funding cuts for the maternal and child health block grant resulting in 5 million less families served. if you are one of the millions of men who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone
the east coast are a painful reminder of our dependence on gasoline. what better time to talk about america's domestic supply of nan gas. crushed by the street after reporting, but is this your chance to fill up? cramer's drilling down with the ceo in an earnings exclusive. >>> and later, the market may have traded higher today, but after a slew of disappointing reports, there is plenty of pessimism on wall street. cramer is looking beyond the doom and gloom. >> holiday rush? clean up continues as retailers get ready for the busiest shopping season of the year. cramer is seeing if they could be a gift to your portfolio. don't miss this exclusive with the ceo of shopping center, all coming up on "mad money." >> don't miss a second of "mad money." fol lot @jimcramer. send him an e-mail or give us a call. 1-800-743-cnbc. miss something? head to >> with the price of oil inching back up and people all over the northeast unablg to buy gasoline. the only way to get opec off our neck and break our addiction to foreign oil is producing cheap, clean, and plentiful natural gas. oil
in school because their parents worked for aig. we had people in america afraid to go home because of the way they were characterized pubically on television. when i said they were quick to attack them pubically, they ought to thank them pubically. private conversations with me doesn't help me. thank the people of aig. >> i was critical of the initial, but i want to thank people, too, from aig. what has been the chief accomplishment? >> for the company it's mainly first of all getting confident of our customers and that came through confidence of our employees and getting our businesses back up and running very effectively. that allowed us to create the money to pay back america. >> okay. i think that you're being too modest. i think this was one where everybody thought it would never happen and some management skills. it is management skills perhaps learned when you were in the army? >> first of all, my family made me go to military prep school in high school. we couldn't afford it at the time so i said how will we afford it? my mother said you can wash dishes and you can help cle
cliff. which still is beyond many people in america. >> most of the people rushing the store may be aware of it in some way but they probably are not in the weeds on it. >> i would have liked to ask the 23 year olds, look, are you going to stop spending or cut back because of the fiscal cliff. i'm out there enough already. i can't even go to that level of being out there. >> you can't? >> no, i can't. i can't. i'm a fixture at every mall in the country. this mall of america there was a guy. mike didn't work initially. you handled that so well. the mike didn't work initially for mall of america. >> i threw to him on friday. while you're shopping you still managed to watch us. amazing. >> and miss you? it was just like you didn't skip a beat. like you had actually been to a mall. >> you knew i had never been to a mall. >> i know you have been to a mall. >> what mall? >> time warner center is that a mall? >> that counts as a mall. >> i've been in there. there's a j. crew there. >> yes. yes, there is. i think whole foods also had a big week. >> i do shopping for the night before i he
committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. >>> welcome back to "the kudlow report." americans for tax reform tell us that on january 1st, 2013 americans will get smacked with a staggering $268 billion tax hike, all of that thanks to obama care. happy new year indeed. joining us to report on this, news editor lickity split. let's go through this from your report. i want to rank them by numbers. the biggest one here, $123 billion is a 3 .8% tur tax on all manner of investment. how is that going to help the eco
. still to come on the program, we'll take a look at what tuesday's election means for america's chances for falling off the fiscal cliff. >>> greece's coalition government on shaky ground. quit because of a scandal over a published list of suspected tax evaders. it they're putting on a unified front before a key vote on austerity measures. >> royal bank of scott land has had a loss of just over 1.4 billion pounds mainly due to a clarm on his own debt. the lender has increased its compensation provision by 400 million pounds and will soon enter negotiations to settle libor investigations. it's also likely to be hit. they reiterated the banking industry must make major changes to it culture. >> i guess in general banks didn't live up to the standards of integrity and have the right cultures. so we're paying some of the sins for that. >> some of the world's biggest banks, more capital to deal with financial shocks this according to the rules unveiled by the financial stability board. regulators have decided capital buffers. >> the economy remain as top issue for americans while investors h
'll be right back. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. welcome to the world leader in derivatives. welcome to superderivatives. >>> once again, you're looking at live pictures from westchester, ohio, near cincinnati. where mitt romney is set to deliver his campaign's closing message to thousands of supporters later this hour. you can see former new york city mayor rudy giuliani knocking it off right now in preparation for mitt romney's speech. so, of course, with just four days until election day, the romney campaign is looking to fire up its base as well as courting independents. but as "the wall street journal" recently suggested evangelical christians could be the secret voting bloc that puts romney over the top. this from a column by deputy editorial page editor, dan henneger. we welcome century strategy ceo ralph reid,
to end. now that the world knows that america's going to do the same thing for four more years -- >> jimmy, before -- the chapter's not written tonight by any stretch. in fact, this north carolina race we're looking at makes things a little bit tighter than they were maybe 10 or 20 minutes ago. john harwood, you have some thoughts on that? >> i just wanted to say north carolina is the first piece of genuine good news for mitt romney from the swing states tonight. he needed that state. he'd been favored heading into the night. when it looked like the state was wavering and obama might be doing better than expected, that was a very bad sign for romney. he's now brought that home. now he's got to do the same thing in the state of florida. do the same thing in the state of virginia. and the same thing in the state of ohio. but this is something to cheer, the people in boston at romney headquarters. >> john, i know you're looking to the screen as well. iowa being projected now for barack obama. >> well, that is a piece of bad news for the romney campaign. again, remember, mitt romne
a reaction to the election, aren't we? >> of course you are. that's exactly what i predicted. listen, america is now facing austerity. it was europe's turn. now it's america's turn. austerity is very deflationary and very depressionary. there will be a recession in 2013. china has yet to bottom. we will have a recession now. >> so what are you going to do within your portfolio? >> listen, we are now selling defense. we're selling dividends. we're selling cyclical stocks. we're raising cash. we believe that you should not play russian roulette with your investments. you have to be careful here. when we get resolution on the fiscal cliff, and i'm sure there will be very early in 2013, then we'll go back into the market heavily. not until then. >> okay. jeff, in the meantime, you believe with obama remaining in position that ben bernanke's job is safe for the foreseeable future and that is inflationary, yes? >> i think the fact that we've had inflation, core inflation, outside of core inflation, food and energy prices have accelerated in the obama administration. ben bernanke has failed to reali
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